However you look at it, the world today relies heavily on the software industry. As a result, software stocks are still among the most active stocks on the stock market today. Indeed, this would be the case seeing as software not only fuels most of our tech but also works to improve and drive innovation overall. Given the versatility of the software industry, I can understand if investors are looking for the top software stocks now.

Whether it is quantum computing, artificial intelligence, or even cloud computing, they all rely on software to an extent. Moreover, the software industry continues to ride the current pandemic tailwinds as organizations remain dependent on Software-as-a-Service (SaaS) players now. For one thing, corporate spending on enterprise software surged over the past year. It only makes sense then that organizations would want to make the most of said investments. By extension, this could mean constant streams of revenue for software companies.

For instance, software giants Qualtrics (NASDAQ: XM) and Salesforce (NYSE: CRM) continue to expand and grow their operations. On one hand, Qualtrics, a leading experience management provider, just reported a record quarter. In detail, the company saw year-over-year surges of 46% in subscription revenue and 36% in total revenue. On the other hand, customer relationship management firm Salesforce unveiled the next generation of its core Service Cloud software yesterday. Also, SmileDirectClub (NASDAQ: SDC) and Sonos (NASDAQ: SONO) are now Salesforce’s clients as well. Seeing as the software industry remains a hot segment of the stock market, could these software stocks be a buy?

UiPath is a leading enterprise automation software vendor that helps organizations efficiently automate their businesses. In essence, the company offers an end-to-end platform for automation, combining its leading robotic process automation (RPA) solution with a full suite of capabilities that enable every organization to digitally transform its business. Fresh off its IPO yesterday, PATH stock is up another 11.65% on Thursday’s opening bell and currently trades at $77.22 as of 11:26 a.m. ET. How will the company perform moving forward?

Last month, the company announced that it had acquired Cloud Elements, a pioneering API integration platform. With this acquisition, the company continues to lead innovation in the automation market. Specifically, UiPath could be the first provider to offer enterprise-grade user interface (UI) and API-based automation capabilities in a single platform.

To maximize benefits from automation, companies often require a unified and versatile UI and API-based automation approach. This could set up the company for growth in the years ahead as more companies turn to automation. Given this piece of news, will you consider buying PATH stock?

PayPal is a software company that operates an online payments system. In detail, the company operates as a payment processor for online vendors, auction sites, and many other commercial users. By leveraging technology to make financial services and commerce more convenient, it serves over 300 million consumers and merchants all over the world.

PYPL stock currently trades at $265.49 as of 11:27 a.m. ET and has more than doubled in the last year. On Tuesday, the company announced the launch of crypto on its mobile payment app Venmo. This is a new way for Venmo’s 70 million customers to buy, hold, and sell cryptocurrency.

Late last month, PayPal also announced the launch of Checkout with Crypto, a new feature that significantly expands the utility of cryptocurrency. Checkout with Crypto will automatically appear in the PayPal wallet at checkout for customers. As the use of digital payments and digital currencies accelerate, this new feature will help drive the mainstream adoption of cryptocurrencies. With that, PayPal could well capitalize on this trend by giving its customers choice and flexibility. With that in mind, is PYPL stock worth adding to your portfolio?

Teradata is a hybrid cloud analytics software provider. It is focused on delivering data intelligence to its customers to help customers make better business decisions. Also, the company connects multiple sources of data for ecosystem simplification and delivers scale and integration. This is done through its data analytics platform, Teradata Vantage. TDC stock currently trades at $52.43 as of 11:34 a.m. ET and has been up by over 32% off Thursday’s opening bell. Investors seem to be responding to Teradata’s better-than-expected first-quarter fiscal results.

In it, the company announced an earnings per diluted share of $0.45 to $0.47, which was above its guidance of $0.11 to $0.13. Its public annual recurring revenue also grew by approximately $16 to $18 million. Evidently, the company has performed strongly across all its revenue categories. In addition, the company continues to experience strong gross margin performance. It also ended the quarter with approximately $100 million in cash. For these reasons, would you consider buying TDC stock?

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Topping off our list is leading cybersecurity software company, CrowdStrike. Safe to say, CrowdStrike remains a prominent player in the cybersecurity industry today. For the uninitiated, the company’s core services include cloud security, threat intelligence, and cyberattack response. With the recent surge in digital acceleration, many companies have and continue to transition towards the digital space. While organizations may gain the convenience of remote workplaces, they are far more exposed to digital threats right now. This would be where CrowdStrike comes into play. For investors, CRWD stock could be a go-to cybersecurity stock as it fills the current need for cybersecurity in the corporate software space. Evidently, CRWD stock is currently looking at gains of over 210% in the past year. Could it have more room to run moving forward?

If anything, CrowdStrike does not seem to be slowing down anytime soon. Earlier today, the company unveiled several key updates to its services. Particularly, the CrowdStrike Security Cloud (CSC) now supports Network Detection and Response (NDR) solutions.

According to chief product officer Amol Kulkarni, the NDR integration makes CSC a more “comprehensive, holistic cybersecurity solution.” Kulkarni cites enhanced visibility, streamlined detection, and response, as well as frictionless automation as key benefits of this move. Simply put, as cyber threats continue to evolve, so does CrowdStrike. Could all this make CRWD stock a buy right now?

Source: Stockmarket.com

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